Issue - meetings

To consider the report of the Section 151 Officer detailing the findings of any major changes to the Financial Statements arising from the Annual Audit, attached.

The Committee considered the report of the Section 151 Officer detailing the Financial Statements for 2016/17 which were required in accordance with the Accounts and Audit Regulations 2015.

The Committee noted that External Auditors Ernst & Young had commenced an Annual Audit on 5^th June which was completed on 14^th July and the report detailed findings to date, noted in the draft annual audit of any major changes to the Financial Statements arising from the annual audit. 

The Committee noted that following the annual audit there were no material changes or effect on the Financial Statements and paragraphs 6 to 9 and appendix 1 of the report provided the revisions that had been made to the Statement of Accounts.  Particular reference was made to the entries regarding the HRA which were now dealt with by Corporate Finance opposed to service areas and the pension deficit.  In relation to the pension deficit the Committee requested that a detailed position statement be submitted to the next meeting for consideration.

RESOLVED:

(i)  That the changes to the Financial Statements 2016/17 as a result of the annual audit as detailed in paragraphs 6 to 9 and appendix 1 of the report be noted; and

(ii)  That the audited Financial Statements 2016/17 be approved; and

(iii)  That a report be submitted to the next meeting of the Committee providing a detailed position statement on the Pension Fund.